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20130117
20130117
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CNBC 6
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Search Results 0 to 31 of about 32 (some duplicates have been removed)
FOX Business
Jan 16, 2013 9:00pm EST
the first time we raised it, the debt ceiling was $3.12 trillion. the debt ceiling is raised, the spending gets raised. and it never comes back down. >> that's right, it goes up and it never comes back down. in the past, sometimes we have insisted on cuts along the way. now we're finding ourselves in a position where we have $16.5 trillion of debt and cuts are not going to cut it anymore. it has to be more than cuts. it needs to be permanent structural spending reform. that's what we need. >> what john boehner headset is dollar for dollar. spending cuts with debt ceiling heights. what should they cut? give me a list. you might we talk about it from the standpoint of cuts, don't think cuts are going to do the job. we have to permanently reform the way washington spends money. >> okay, somebody want to to do that. >> we do that is through an approach that we referred to in the last debt limit debate is cat cut cabin balance for the short of it is to say that we can raise the debt limit we're not going to raise the debt limit, we shouldn't we put into place a balanced budget amendment to the
FOX Business
Jan 17, 2013 1:00pm EST
and consequences of them coming up. there is the debt ceiling to have to deal with, there is government spending that expires in march and those automatic spending cuts, sequestration is supposed to hit the federal budget. and right now it appears a strategy that republicans are beginning to coalesce around, perhaps a short-term debt ceiling increase, pass that through the house with spending cuts, deal with the other elements of government spending and then set up a protracted argument or debate over the debt ceiling going forward. as republicans say, when it comes to their strategy, cutting spending is imperative. melissa: there's no celebration the fact we're a nation of $16 trillion in debt and you have someone in the white house that says to do the one thing that makes absolutely no sense whatsoever, and that is raise the debt ceiling with no change in the future? that is actually an absurd argument i don't think any householder in a state run well operates like that. >> house budget committee chairman spoke to reporters a short while ago saying this to work in the strategies on all this tr
FOX News
Jan 16, 2013 4:00pm PST
ceiling to spending cuts. and that's exactly what congressman gerald nadler democrat of new york did today along with other democrats, listen up. >> the intent on blackmailing the country. they say to us if you do not agree to massive cuts to social security, medicare, medicaid, and other social programs, we will refuse to raise the debt ceiling and thereby cause an economic catastrophe by making the country default on its debts. >> house republicans if anything are more determined than ever to tie any increase in the debt crilg to spending cuts. they are huddled away at their retreat in williamsburg, virginia as we speak. determined to present a united front against this. in fact, the theme, they are gathering down in williamsburg is many voices. one conference. a senate republicans are equally determined, listen up to senator john have speaking earlier today on fox news. >> we have a spending problem in this country. people all across the country know it they know it in wyoming. families have to balance their budget every year. many states do. we do in wyoming. it's time for this senate
CNBC
Jan 16, 2013 7:00pm EST
's right. and, again, i say raise the debt ceiling and then for the president to make spending cuts and follow through on the sequester. many conservatives including my good friend coke brothers free market folks agree with me. a new team of conservatives say threatening the president with a default is the only way to make progress. they are totally wrong and we'll debate it. also don't look now but the economy got pretty good double dose of good news today, increased manufacturing and reduced inflation all looks pretty bullish. first up former republican congressman joe scarborough wants to remake the gop and in his latest op-ed he says now is the party's time to choose it's path for the future. all right. here now is my friend joe scarborough, host of msnbc's "morning joe." joe, you know what i like? i like the editorial but i like the tone. republican party's stand pat is going nowhere. let's start with your quote of my former friend and boss william f. buckley you should vote for the mo mos lectable conservative. >> no doubt about it. we made so many mistakes, self inflicted wou
CNBC
Jan 17, 2013 4:00am EST
the fiscal position with the debt ceiling and spending negotiations still yet to really happen. and this is just another headwind that the economy seems to be having to face. with that in mind, you know, people are getting optimistic that we'll see a second half recovery. but that's almost in a way hope. there's nothing out there which really -- >> i've said it before, and i'll say it again, but i've heard the second half recovery issues every year. >> every year since the gfw. >> and to be honest with you, we're not seeing anything tangible out there which would indicate, yes, there's definitely going to be a second half pick up. we're expecting 2% growth this year overall. i think the risk is on the down side as opposed to the upside. >> how do you trade that? do you stay away from stocks? >> well, yes. at the moment in short-term, yes. we look at the economic growth potential pushing the rating up and with the corporate earnings still mixed, we think fundamentals are a little bit vulnerable. we think sentiment got quite bullish, which is normally a contrariry sign and we thi
CSPAN
Jan 17, 2013 5:00pm EST
ceiling, and the possibility of severe spending cuts in 2013 have the potential to really stop this recovery in its tracks. one thing you will notice from our forecast table is that the recession probabilities from the committee are higher than normal. we still have the probability of a recession at 23% and for 2014, 20%. that is a little bit higher than what we typically see. we think the private sector is poised for sustainable growth. i think the housing numbers point to one area of strength, the housing market. the tax hikes at the start of 2013 will create a drag on gdp of at least 1.25%. the potential for additional budget and spending cuts from sequestration could add to the downside risks. we think resolving the debt ceiling in a timely manner and providing more clarity on policies could actually generate a boost in confidence and open the door for faster growth in the second half of 2013. looking at the labor market, we see lackluster growth in 2013 wing on job creation. we actually see gains of slowing in the first half of 2013 before picking up. it is a little bit sl
CNBC
Jan 17, 2013 9:00am EST
the debt ceiling would be, if you reached the debt ceiling and reduced government spending by that amount, mark sandy, others suggest it should be a 7% hit to gdp. so, simon, a big war of numbers, and big war of words on both sides, as we game out what happens, first with the debt ceiling, then we continue resolution, and also the sequester. simon? >> let's hope they rise above. thank you very much, steve liesman with the fiscal cliff. >>> it's been the trade of many people's lifetimes, but with the courages sill at multiyear lows. and the meeting next week, will the trade last? it's the "money in motion" section. good morning. >> good morning. good to be with you guys. what about this dollar/yen trade? obviously the dollar is substantially higher today, but monday/tuesday/wednesday, we've reversed the trend, the yen was actually higher. where do we go from here? >> i think steve's presentation is one of the reasons i'm cautious on this trade. we're within a whisker of the obvious target. i think that trade level will stall. to me i think the better trade is to take profits and go the sho
CNBC
Jan 17, 2013 6:00am EST
were treasury secretary, so you make spending equal cash flow? get ready to play folks? the debt ceiling game, calling this the home edition, here are different items in the government, in the federal government budget, what you've got to do is check a box, fund it or don't fund it. now we've rigged this now so we've worked on tv. we're going to fund all these things. and what we're going to do is we're going to make our spending equal the cash flow of 277 billion dollars so we're going to pay the interest, we're going to pay medicare, medicaid, social security, military pay, retirement, veterans benefits and defense vendor payments, federal salaries. okay got it. 275. we fund this, it means we cannot come over here zoom on in, we cannot fund that. we can't give tax refunds, we can't run health and human services, supplement security and we can't find departments of justice, fema, energy the faa, highways or the epa. okay. now let's say you take this 175 billion a month out of the economy and government spending. let's now compare the fiscal cliff with the debt ceiling. here's th
FOX Business
Jan 17, 2013 12:00am EST
dollar claim to avoid the debt ceiling showdown or just raise the debt ceiling himself to avoid the amendment. they will avoid the mess than address what has created the mess. overspending. over eating. you don't think we see to the games? that chance. we see through of fact acre wearing dark clothes and filmed at a distance. they know he is a slob. so is washington. camera moved back. back. you are too close. you can catch inauguration coverage. i will be in washington d.c. but it will be filmed from new york for the big festivities. we will have drone technology taking all of theed e shots. here is what is "money" tonight. president obama announced his sweeping gun-control proposals, but with gun sales shooting through the roof and hundreds of millions of firearms already out there, can they really make a difference? today's power panel takes aim at the hot issue. plus at least seven americans are reported to be among dozens of oil and gas workers taken hostage in algeria. is this the first wave of al qaeda sponsor strikes against critical energy facilities? and could it disru
FOX News
Jan 17, 2013 3:00pm PST
thing. >> bret: may not be the debt ceiling. >> it could be the sequester with the forced spending cuts in law to take effect. republicans live with the defense cut it's not that -- they can live with the other cuts. >> bret: journalist has historical perspective on the fun control effort. up next, gullible or culpable? the fake girlfriend of college football superstar. so...how'd it go? well, dad, i spent my childhood living with monks learning the art of dealmaking. you've mastered monkey-style kung fu? no. priceline is different now. you don't even have to bid. master hahn taught you all that? oh, and he says to say (translated from cantonese) "you still owe him five bucks." your accent needs a little work. schwab bank was built with all e value and convenience tdd#: 1-800-345-2550 investors want. tdd#: 1-800-345-2550 like no atm fees, worldwide. tdd#: 1-800-345-2550 and no nuisance fees. tdd#: 1-800-345-2550 plus deposit ches with mobile deposit. tdd#: 1-800-345-2550 and manage your cash and investments tdd#: 1-800-345-2550 with schwab's mobile app. tdd#: 1-800-345-2550 no wonder sc
FOX News
Jan 17, 2013 1:00pm PST
spending, not only raising revenue, but growth in the economy. and you know? this debt ceiling issue is just crazy. i stand -- >> was it crazy seven years ago when your democratic colleague voted against raising it? was it crazy then? >> well, except it wasn't real and this is real. the last final -- >> real is in the eye of the beholder. >> no, no. >> i guess it's -- >> it was more -- you know that those past votes were more symbolic, but when we really had a crisis over the debt ceiling in 2011, there were real consequences. real lasting consequences, and we didn't even -- we did raise the debt ceiling in the end, but we saw the deficit grow, neil, when there was this threat to -- and so as i said, the coke brothers, the u.s. chamber of commerce, against the debt crisis. >> i always appreciate your coming on. you give as well as you take and i appreciate that. congresswoman jan. >> a warning about the healthcare law. unite health care says its costs are running up. all rise. the judge says your premiums are about to do the exact same thing. so, i guess we shouldn't be surprised. pr
CNBC
Jan 17, 2013 1:00pm EST
out its tactics over the debt ceiling. the community seems divided as to whether it should link spending cuts according to the washington post survey deliberately to that ceiling or not. 48% say yes, 45% of gop members say, no, you shouldn't lipg the two. what would generate the best outcome in your view? >> the problem with trying to do that, to link it to the debt ceiling, the president may call the gop's bluff, in which case social security may not be paid or other things may not be paid. my guess is that debt -- interest on the debt will be paid, but we've seen this movie before. we've seen what happens when the government shuts down or even partially shuts down. all you have to do is ask newt gingrich that. it's not good. i think there is a way that the gop can get the president to come in and negotiate and that has to do with a squeser which begins in march. >> the automatic spending cuts which affect discretionary spending as well as the defense department. each of them, they affect 8 to 10% reduction in expenditures. that's really painful to the gop but it's also very pa
FOX Business
Jan 16, 2013 8:00pm EST
do about that? >> yeah, that's the whole battle we face now with the debt ceiling and everything else, and the fiscal cliff was a dollar and spending cuts for $4 for revenue. neil: try $40, yeah. >> excuse me, exactly. where's our representation? we can see -- neil: what happened to tea party? even in the 82 of them came to the new house in the takeover in 2010, elected john boehner speaker of the house, and he returns the favor by pitting them almost into the witness protection program. where is their gusto, their zest? what happened? >> i think they are still building their numbers so to speak. there's been a lot of people in the house that have been, i think, quietly organizing to get a voice opposite john boehner. i'm not a huge boehner fan, but at the same time, i think if you're going to stage a mutiny, you need someone in the wings to challenge him public by. neil: who would that be? i wondered that because it was not questioned in the election. there were few -- >> that's the question. neil: yeah, so, you know, i wonder how do they get their monetary -- mojo back. is it too la
Current
Jan 16, 2013 5:00pm PST
talking about the debt ceiling. but teetering on cliffs and bumping up against ceiling is no way to run a country. to your president what could president obama do if he wants to have a legacy of which he can be proud. give a speech, a major public policy address to the eradication of poverty in our country. he's going to be inaugurated for a second term on the king's holiday. how dare any president on the king holiday stand with king's monument just a few blocks down the street and not talk about the issue that he gave his life for, the poor. you quoted him beautifully and he talked about that being the passion of his life. one, he has to give a major public policy address on what he'll do as our leader to eradicate poverty and then bring the experts together and craft this plan that you referenced earlier to cut policy in 10 years and eradicate it in 25. >> john: i'm depressed how many people forget that dr. king stood against anti-militarism before he died. do you think if the leaders lead people will follow, and it will be finding a way to get people vote and more importantly, voting
Current
Jan 17, 2013 6:00am PST
that the spending and the debt ceiling and our children and grandchildren and their grandchildren will be paying for the future for all of this. >> stephanie: right. >> caller: why can't we worry that our children and grandchildren right now that they have the freedom to go to a public school and not be shot. >> stephanie: right. >> caller: they are so worried about the future but what about right now. >> stephanie: yeah i love this. [♪ "world news tonight" theme ♪] >> stephanie: the nra hits back attacking firearms and ignoring children is not a solution. >> huh? and then they complain about him talking to children. >> stephanie: attacking firearms and ignoring children is not a solution. only honest gun owners will be affected. >> i repeat the children wrote to him and the brought them there to -- >> stephanie: right. >> so how is that ignoring children? >> stephanie: earlier the white house responded to the new nra ad. the white house press secretary deemed it repugnant and cowardly. >> and stupid. >> stephanie: yeah. stupid on top of it. it's another way of calling him
FOX News
Jan 17, 2013 8:00am PST
view, when he suggests the raising of the debt ceiling has nothing to do with limiting future spending. it most certainly does. jon: all right. let's play a sound bite that we played a moment ago in which he would have the nation believe he has been at the vanguard of trying to cut wasteful spending. listen to this. >> and for nearly two years now, i've been fighting for such a plan, one that would reduce our deficits by $4 trillion over the next decade which would stabilize our debt and deficit in a sustainable way for the next decade. jon: douglas, i'm told and the washington post actually published this, that the president is including in that $4 trillion number something like $850 billion that he does not intend to spend on the or wars in iraq and afghanistan. >> yeah. the $4 trillion number you just can't make add i. i mean -- add up. the key budget gimmicks are, number one, the wars in iraq and afghanistan, counting as savings money that would never be spent. if you look inside his budget proposals, there are a whole bunch of things that he counts as old spending that are really
PBS
Jan 16, 2013 4:30pm PST
debts even if the debt ceiling is not raised. >> and there is no reason for the government to default unless president obama and the democrats want us to. it's just a scare tactic to continue the spending that they don't want to address. that's why they keep saying, "oh, we're going to default. we're going to default. we're going to default." it's just not true. >> reporter: but talk like that scares many budget analysts in washington. they argue markets will see a failure by the unit ed states to pay any of its bills as a threat it could one day stop paying some or all of its bills, including terest on its debt. if we pay the chinese the interest we owe them on their sovereign debt holdings, on time and in full, but we don't pay social security recipients or armed services personnel their salaries, is that a default? well, of course it is. >> reporter: a recent inspector general's report found the treasury doesn't have the computer systems in prioritize some payments over others. so if the treasury runs short of cash, it would most likely delay writing checks until it collects enough
CSPAN
Jan 17, 2013 12:00pm EST
debt ceiling which will come into play so we will be seeing a lot of activity the next few months about the appropriate size of the government and about the size of the deficit and a lot of back-and-forth over these issues. without going into all of the different ramifications i want to say a word about the debt ceiling which is not everybody understands what it's about. the debt ceiling which congress has to do periodically as gives the government money to pay its existing bills. it doesn't create new spending so it's like a family trying to improve its credit rating not the most effective way to improve the credit rating and was the slow solution to the debt ceiling in august of 2011 that of the u.s. downgraded last time brough so it's very important that congress take the necessary action to raise the debt ceiling to avoid a situation where our government doesn't pay its bills. estimate the number of people have expressed concern about how much of the challenges actually were addressed in the deal. as you mentioned is certainly went part way that leaves a number of issues still on th
FOX News
Jan 17, 2013 6:00am PST
and more difficult. do you agree a with that? >> that's correct. i really do. i think the debt ceiling is a beautiful tool to get the president and congress to agree and to compromise and work things out and to bring down spending. i think that is right. it shouldn't be used to close down the country. that is just another tool, another political compromise in negotiations and it is a beautiful tool for that to bring the two sides together to bring out something that is good for all of us. bill: jerry nadler, a congressman from here in new york. he was the one said it was being used for political blackmail. that is where the comment came from. the debt ceiling has been in place since 1939. you have competing ideas, one on the house, john boehner said we'll raise the debt sealing a dollar for every dollar you cut spending. republicans out of pennsylvania, pat toomey you prioritize the bills you pay for long period of time. weeks and months. make sure the military is taken care of. >> sure. bill: would you back house idea or senate idea or neither? >> i think both are part of the negotiat
CSPAN
Jan 17, 2013 6:00am EST
, if we go over the debt ceiling, we don't exceed -- we don't increase the debt ceiling, republicans aren't going to win the debate. they'll argue that they're not increasing it because they don't want to control spending, but they're not going to win the debate, because what will happen is that the white house will pay with the cash flow of the country the debt, the interest on the debt. the debt won't default. what they might not pay and will certainly threaten not to pay are social security checks. and the moment that the american citizen figures out that the social security checks might not go out, game's over. because, believe me, no congress can stand up to the senior lobby if it's concerned and rightly concerned about its ability to exist because it doesn't get it checks. so that's not a legitimate process, to take the debt ceiling as the hostage. the appropriate goal here whether the debate should occur, plus, if you use the debt ceiling as the issue, the president gets to talk about default, he gets to talk about social security, and from a republican standpoint, we should be tal
CSPAN
Jan 17, 2013 1:00pm EST
go over the debt ceiling, we do not increase the debt ceiling, republicans will not win the debate. they will argue they are not increasing it because they do not want to control spending but they will not win the debate. what will happen is the white house will pay with cash flow of the interest on the debt. the debt will not be called. what they might not pay our social security checks. the moment the american citizen figures out they may not go out, the game is over. tenfold. because believe me, though congress can stand up to the senior lobby. so that is not a legitimate process to take the debt ceiling as the hostage. the appropriate goal, whether the debate should occur. the president gets to talk about the faults. he gets to talk about social security. we should be talking about spending. spending restraints. where is the logical place to do this? the logical place is on the sequestered. that is where the next pressure point should be. we should have the debate over how much spending should be restrained and how it should be restrained. the sequester is a 1.2 trillion dollar
CNBC
Jan 16, 2013 11:00pm EST
they are more likely to shop at family dollar or dollar general than saks, that's bad news. the debt ceiling fiasco, and the negotiation of the budget sequester, we could see actual cuts to entitlement programs in the next few months, at least there will be tons of chatter in the media about it. i don't think either the republicans or the democrats have the guts to cut entitlements. what does this have to do with the dollar stores? you cut program that help people who shop at dollar stores, you hurt these stocks. the low-ends retail environment is getting more competitive. they have to become more promotional, code for more discounts. in order to hold their own, they have to put real pressure on margins. the higher payroll taxes on consumers, i think it's very hard to make the case that dollar stores can be owned here. it's true companies have big long-term growth stories, as they expand store base around the country. that's not a reason to buy them as long as existing stores have so much trouble. at this point, dollar stores may be too cheap to go much lower, dollar tree sells 14 times earn
CSPAN
Jan 17, 2013 5:00pm EST
say i look at some of the discussion around the debt ceiling discussion and i lose view that this is the height of irresponsibility that we are sitting here discussing where the united states should be felt on debt that has been occurred as a result of spending approved by both bodies of congress and signed by the president of the united states. 545 members of congress i assure you that not a single one of them if they were confronted with a credit card bill that they didn't like what simply say i'm not going to pay that because i know the implications for their credit rating and the access to future bank loans would be affected for ten, 15, 20 years and so it is kind of appalling that we are sitting here discussing whether we would do that with this country that we are so all incredibly proud >> let me in my last question try to be a little bit provocative here. folks like alan come and nobel prize-winning economist and bottom blanking, paul krugman who's identified on the left but is quite influential. they say we have to get this economy going again if we can get the
Current
Jan 17, 2013 3:00pm PST
party can be moved by public voices. if they can be moved on the debt ceiling of all things, maybe they could be moved on guns. you wrote in the "huffington post," advocating reducing defense spending so you can spend more money and invest in the united states. the question is in the negotiations in congress over the spending do you see that happening? >> we've got to make it happen. again, it's got to be the voice of the american people that will make it happen. people don't realize that 60% of our discretionary money go to the defense. wewe need and want a strong defense, with you but quite frankly out dateed cold war-era weapons can be taken off the table. there are many many ways we can save money with defense in our pentagon budget, and never even touch anything that would affect our troops and their benefits and their families or national defense. nothing is off of the table and we have to under that defense can't be off of the table. we have to keep defense on the table as part of the negotiations as we move forward. i cannot accept a plan that's going to cut domestic spendi
Search Results 0 to 31 of about 32 (some duplicates have been removed)